Sellers Published date: July 4, 2014 Modified date: January 2, 2015

I WILL SEND YOU OUR ATS TO CONFIRM...

procedure 1

1. Buyer provides Proof of Past Performance

2. Buyer sign SPA & return with buyer POD details.

3. Seller loads vessel in buyers name and issue Cargo documents in buyer name as consignee. Captain issues NOR/ETA to buyer POD.

4. Buyer SWIFT BG/SBLC via MT-760.

5. Seller issues Full POP including CPA/Q88 in buyers name.

6. Vessel sails to buyer POD.

7. Upon arrival, seller captain issues ATB & CLEARANCE for buyer supercargo & inspector to carry out Q&Q.

8. SGS Report comes out and vessel unloads in buyer Tank Storage.

9. Buyer Pay MT-103 to seller account & all agents commissions are paid.

10. Deal is completed.

procedure 2

TRANSACTION PROCEDURE: TO ASWP
1. SELLER & BUYER SIGN CONTRACT

2. SELLER GIVES BUYER HIS BULK ALLOCATION DETAILS FOR 2014 WHICH ALSO CONTAINS EXPORT PERMIT,LIFTING PERMIT,ALLOCATION NUMBER,VERIFIABLE IN SHELL SCREEN LONDON,NNPC TOWERS ABUJA AND NNPC OFFICE BONNY TERMINAL.WHICH WILL SERVE AS SELLERS FULL POP.

3. PRICE SHALL BE GROSS$12, $8 net.

4. BUYER ISSUES TO SELLER NON OPERATIVE MT 799 / MT 760 SBLC FROM A TOP 25 BANKS IN THE WORLD USING SELLERS FORMAT FOR THE TOTAL VALUE OF THE CARGO.
UPON RECEIVEING THE NON OPERATIVE INSTRUMENT, SELLER BANK ACTIVATE IT WITH 2% PERFORMANCE BOND.

5. SELLER ISSUES NOR/ETA TO BUYERS PORT OF DISCHARGE,ON ARRIVAL ANNOUNCES TO THE HARBOUR MASTER,POSITIONS AT 10 NM AND INVITES BUYERS INSPECTORS ON BOARD FOR Q AND Q ANALYSIS.


6. Q AND Q REPORT IS OUT, BUYER ISSUES MT 103.

7. SELLER CHANGES ALL DOCUMENTS IN BUYERS NAME AND SEND TO BUYER VIA BANK TO BANK.

8. VESSEL DISCHARGE INTO BUYERS STORAGE.

9. FULL AND FINAL PAYMENT IS MADE TO SELLER AND ALL BROKERS AS MAY BE INSTRUCTED BY SELLER.

The price shall be fixed at US$12 GROSS $8 NET to Buyer and $1.00 to consultant..

10. PAYMENT TERMS
a The payment will be in United States Dollar and made by Letter of Credit, Bank Guarantee (BG) or MT103 issued and confirmed by a Prime Bank in favor of the Seller in the amount in NGN corresponding to the total value of each shipment.

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• Publisher: patrixayintradingcompany
• Company Name: PATRIXAYIN TRADING COMPANY

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